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View Full Version : WEALTH GAP Widens Between Whites and Minorites.....



MMC
08-25-2011, 03:53 PM
http://news.yahoo.com/wealth-gap-widens-between-whites-minorities-040224418.html

WASHINGTON (AP) — The wealth gaps between whites and minorities have grown to their widest levels in a quarter-century. The recession and uneven recovery have erased decades of minority gains, leaving whites on average with 20 times the net worth of blacks and 18 times that of Hispanics, according to an analysis of new Census data.

http://l.yimg.com/bt/api/res/1.2/6XAnuUoqVq4olDtqFsMhjg--/YXBwaWQ9eW5ld3M7Zmk9aW5zZXQ7aD0zNTA7cT04NTt3PTQxNg--/http://media.zenfs.com/en_us/News/ap_webfeeds/ecc5697397cbfc10f30e6a70670006eb.jpg

The analysis shows the racial and ethnic impact of the economic meltdown, which ravaged housing values and sent unemployment soaring. It offers the most direct government evidence yet of the disparity between predominantly younger minorities whose main asset is their home and older whites who are more likely to have 401(k) retirement accounts or other stock holdings.

"I am afraid that this pushes us back to what the Kerner Commission characterized as 'two societies, separate and unequal,'" said Roderick Harrison, a former chief of racial statistics at the Census Bureau, referring to the 1960s presidential commission that examined U.S. race relations. "The great difference is that the second society has now become both black and Hispanic."

The NAACP and other black groups urged Obama to resist deep cuts to housing assistance or safety net programs, saying it would disproportionately hurt urban areas with high poverty and unemployment. The U.S. poverty rate currently stands at 14.3 percent, with the ranks of the working-age poor at the highest level since the 1960s. Some analysts believe the poverty rate will climb higher when new figures are released in September.

"Typically in recessions, minorities suffer from being last hired and first fired. They are likely to lose jobs more rapidly at the beginning of the recession, and are far slower to gain jobs as the economy recovers," said Harrison, who is now a sociologist at Howard University. "One suspects that blacks who lost jobs in the recession, or who have tried to help family members or relatives who did, have now spent whatever savings or other cashable assets they had."

—About 35 percent of black households and 31 percent of Hispanic households had zero or negative net worth in 2009, compared with 15 percent of white households. In 2005, the comparable shares were 29 percent for blacks, 23 percent for Hispanics and 11 percent for whites.

—Asians lost their top ranking to whites in median household wealth, dropping from $168,103 in 2005 to $78,066 in 2009. Like Hispanics, many Asians were concentrated in states like California hit hard by the housing downturn. More recent arrivals of new Asian immigrants, who tend to be poor, also pushed down their median wealth.

—Across all race and ethnic groups, the wealth gap between rich and poor widened. The share of wealth held by the top 10 percent of U.S. households increased from 49 percent in 2005 to 56 percent in 2009. The threshold for entry into the wealthiest top 10 percent, however, dipped lower: from $646,327 in 2005 to $598,435. (snip)..... Thoughts?

Conley
08-25-2011, 05:12 PM
Oh yeah, all those numbers are going to get worse. The current figures have a lag, and it looks like things are getting worse at least for the short term. Unemployment is back up, housing market tumbling further, the downgrade, Dow at 10k...not any good economic indicators that I can see.

MMC
08-25-2011, 05:37 PM
Oh yeah, all those numbers are going to get worse. The current figures have a lag, and it looks like things are getting worse at least for the short term. Unemployment is back up, housing market tumbling further, the downgrade, Dow at 10k...not any good economic indicators that I can see.


2009 is under Obama. So it still increased. What does that tell you?

Conley
08-25-2011, 05:40 PM
Obama is no friend of the poor, I know that. He's big business all the way.

Mister D
08-25-2011, 06:02 PM
The only thing that is truly disturbing about this is the way it's being discussed. It's spoken of as if it's something that shouldn't be and needs to be corrected. Moreover, do you think at least part of the gap between Hispanics and whites might have something to do with the fact that we import uneducated poor people? Duh.

MMC
08-25-2011, 06:11 PM
The only thing that is truly disturbing about this is the way it's being discussed. It's spoken of as if it's something that shouldn't be and needs to be corrected. Moreover, do you think at least part of the gap between Hispanics and whites might have something to do with the fact that we import uneducated poor people? Duh.


Did you see LoVE's video with Cat Stevens on our imports? :D

What do you mean it's disturbing about the way it is being discussed, D? :-\

Mister D
08-25-2011, 06:15 PM
The only thing that is truly disturbing about this is the way it's being discussed. It's spoken of as if it's something that shouldn't be and needs to be corrected. Moreover, do you think at least part of the gap between Hispanics and whites might have something to do with the fact that we import uneducated poor people? Duh.


Did you see LoVE's video with Cat Stevens on our imports? :D

What do you mean it's disturbing about the way it is being discussed, D? :-\


Because some people talk about it as if it's something that needs to be corrected. As if it shouldn't be and is prima facie evidence of racism etc.

Pendragon
08-25-2011, 06:18 PM
It should be corrected. Why would you want the legions of poor to grow? That's not very Christian.

Mister D
08-25-2011, 06:24 PM
It should be corrected. Why would you want the legions of poor to grow? That's not very Christian.


How should it be corrected?

The legions of the poor are growing because we import them. That has nothing to do with religion and everything to do with the stupidity of your leaders.

MMC
08-25-2011, 06:28 PM
The only thing that is truly disturbing about this is the way it's being discussed. It's spoken of as if it's something that shouldn't be and needs to be corrected. Moreover, do you think at least part of the gap between Hispanics and whites might have something to do with the fact that we import uneducated poor people? Duh.


"I am afraid that this pushes us back to what the Kerner Commission characterized as 'two societies, separate and unequal,'" said Roderick Harrison, a former chief of racial statistics at the Census Bureau, referring to the 1960s presidential commission that examined U.S. race relations. "The great difference is that the second society has now become both black and Hispanic."

Thats what I thought he studied? Shouldnt the study also include ethinic diversity as well?

Mister D
08-25-2011, 06:44 PM
The only thing that is truly disturbing about this is the way it's being discussed. It's spoken of as if it's something that shouldn't be and needs to be corrected. Moreover, do you think at least part of the gap between Hispanics and whites might have something to do with the fact that we import uneducated poor people? Duh.


"I am afraid that this pushes us back to what the Kerner Commission characterized as 'two societies, separate and unequal,'" said Roderick Harrison, a former chief of racial statistics at the Census Bureau, referring to the 1960s presidential commission that examined U.S. race relations. "The great difference is that the second society has now become both black and Hispanic."

Thats what I thought he studied? Shouldnt the study also include ethinic diversity as well?


What do you mean?

MMC
08-25-2011, 07:18 PM
The only thing that is truly disturbing about this is the way it's being discussed. It's spoken of as if it's something that shouldn't be and needs to be corrected. Moreover, do you think at least part of the gap between Hispanics and whites might have something to do with the fact that we import uneducated poor people? Duh.


"I am afraid that this pushes us back to what the Kerner Commission characterized as 'two societies, separate and unequal,'" said Roderick Harrison, a former chief of racial statistics at the Census Bureau, referring to the 1960s presidential commission that examined U.S. race relations. "The great difference is that the second society has now become both black and Hispanic."

Thats what I thought he studied? Shouldnt the study also include ethinic diversity as well?


What do you mean?


Well this guy brought up about two separate socities. But in truth isnt there even more. Especially if one went by ethnicity.

Mister D
08-25-2011, 07:21 PM
The only thing that is truly disturbing about this is the way it's being discussed. It's spoken of as if it's something that shouldn't be and needs to be corrected. Moreover, do you think at least part of the gap between Hispanics and whites might have something to do with the fact that we import uneducated poor people? Duh.


"I am afraid that this pushes us back to what the Kerner Commission characterized as 'two societies, separate and unequal,'" said Roderick Harrison, a former chief of racial statistics at the Census Bureau, referring to the 1960s presidential commission that examined U.S. race relations. "The great difference is that the second society has now become both black and Hispanic."

Thats what I thought he studied? Shouldnt the study also include ethinic diversity as well?


What do you mean?


Well this guy brought up about two separate socities. But in truth isnt there even more. Especially if one went by ethnicity.


Oh, I see. Yes, I agree but only certain gaps concern them. ;)

MMC
08-25-2011, 07:29 PM
The only thing that is truly disturbing about this is the way it's being discussed. It's spoken of as if it's something that shouldn't be and needs to be corrected. Moreover, do you think at least part of the gap between Hispanics and whites might have something to do with the fact that we import uneducated poor people? Duh.


"I am afraid that this pushes us back to what the Kerner Commission characterized as 'two societies, separate and unequal,'" said Roderick Harrison, a former chief of racial statistics at the Census Bureau, referring to the 1960s presidential commission that examined U.S. race relations. "The great difference is that the second society has now become both black and Hispanic."

Thats what I thought he studied? Shouldnt the study also include ethinic diversity as well?


What do you mean?


Well this guy brought up about two separate socities. But in truth isnt there even more. Especially if one went by ethnicity.


Oh, I see. Yes, I agree but only certain gaps concern them. ;)


Also I am sure if you talk to hispanics they would considered themsleves separate. That they have come along faster than that of Blacks. Not to mention they think they will surpass all in the US as the most numerous of all populations.

Conley
08-25-2011, 07:31 PM
They are definitely moving up population-wise.

Mister D
08-25-2011, 08:04 PM
The only thing that is truly disturbing about this is the way it's being discussed. It's spoken of as if it's something that shouldn't be and needs to be corrected. Moreover, do you think at least part of the gap between Hispanics and whites might have something to do with the fact that we import uneducated poor people? Duh.


"I am afraid that this pushes us back to what the Kerner Commission characterized as 'two societies, separate and unequal,'" said Roderick Harrison, a former chief of racial statistics at the Census Bureau, referring to the 1960s presidential commission that examined U.S. race relations. "The great difference is that the second society has now become both black and Hispanic."

Thats what I thought he studied? Shouldnt the study also include ethinic diversity as well?


What do you mean?


Well this guy brought up about two separate socities. But in truth isnt there even more. Especially if one went by ethnicity.


Oh, I see. Yes, I agree but only certain gaps concern them. ;)


Also I am sure if you talk to hispanics they would considered themsleves separate. That they have come along faster than that of Blacks. Not to mention they think they will surpass all in the US as the most numerous of all populations.


If current levels of migration were to continue there is no doubt about them becoming the largest population at some point although I suspect (and hope) the state would have collapsed long before then.

Pendragon
08-25-2011, 08:14 PM
Surely you do not wish the state to collapse?

You would rather see a failed nation than a successful one with a large hispanic population?

What does that say about you?

Mister D
08-25-2011, 08:54 PM
Surely you do not wish the state to collapse?

You would rather see a failed nation than a successful one with a large hispanic population?

What does that say about you?


That I don't think whites should be dispossessed? In any case, look at the stats cited here. There will be no successful USA with a Hispanic majority. As the US fills up with poor migrants from the undeveloped world the (easily foreseeable) decline in our status shouldn't surprise any of us. Those gaps will continue to grow and we will have to deal with the consequences. Is that what you want for you country? What does that say about you?

hellraiser
08-25-2011, 09:26 PM
mister d you worry to much about color

each man is different and we are all equal especially here in USA

Mister D
08-26-2011, 08:32 AM
mister d you worry to much about color

each man is different and we are all equal especially here in USA


Actually, your government and your President seem totally preoccupied with it.